London, UK-based AI startup having a platform to analyse customer feedback for support teams, Cordless raised USD 2.3 million in seed funding. The seed round took place on February 28, 2023. Fly Ventures led the financing for the firm. Meanwhile, Passion Capital, Entrepreneur First and TrueSight joined in the funding.
Besides, angel investors, including Tom Blomfield (Founder of Monzo), Ian Hogarth (Founder of Songkick) and Eamon Jubbawy (Founder of Onfido), provided the investment.
Purpose of financing for Cordless
With the latest capital injection from the seed round, Cordless seeks to accelerate customer acquisition. It also has plans to fuel product development.
Meanwhile, the company looks to deepen integrations in the customer support ecosystem.
SaaS startup already enjoys partnerships with companies such as Curve, Plend, Second Nature and Fronted.
What the company’s co-founders say
Luba Chudnovets, co-founder and CEO at Cordless, said, “We spoke to more than 100 customer support leaders, and most managers listen to at most ten calls weekly. This means companies are losing valuable information about how they can improve their service and product.”
Irina Bednova, co-founder and CTO, further said, “In 5 years, every company that supports voice will use AI to analyse their conversations at scale.”
The founders, two ex-Monzo employees, were inspired by their experiences handling customer support at the challenger bank. Working as the head of scaling operations and a technical lead, Luba Chudnovets and Irina Bednova found that understanding customer feedback was essential to providing user support.
What the lead investor has to add
Marie Brayer, Partner at Fly Ventures, said, “Voice support is a generally underinvested category, compared to text, but it is critical to several high-complexity product segments, as well as older, less tech-savvy customer groups. Luba and Irina experienced this first-hand at Monzo and are now bringing a super well-crafted platform to the market.”
About the company
Luba Chudnovets and Irina Bednova launched the company in 2020. Cordless’s telephony platform offers AI-driven conservational intelligence for helping customer support teams. The London-based startup leverages the power of GPT-3 to the world of voice. The platform further allows managers to identify areas for agent improvement and new trends in customer questions. In addition, the platform enables companies to easily spot conversation trends, assess customer sentiment at scale, summarise calls and automatically categorise the entire volume of calls with the ultimate goal of helping companies improve their customer experience.
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